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Outlook in EUR/JPY remains negative – Commerzbank

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, noted the outlook on the cross stays on the negative side.

Key Quotes

EUR/JPY last week eroded its 4 month uptrend and our outlook remains negative. The recent low at 120.17 has been eroded on a closing basis and this should be enough to refocus attention on the 119.26 mid-November low. Failure here would be considered to be negative and this will target the 115.87 September low (favoured).”

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EUR/USD faces strong support around 1.0980 – UOB

While risks point to further downside, EUR/USD is likely to meet a tough support around 1.0980, suggested FX Strategists at UOB Group. Key Quotes 24-h
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